Standard Bank has been named SA’s most valuable banking brand for the second consecutive year, with the news being announced by Brand Finance in its annual valuation of local brands. 

Every year, Brand Finance puts 5,000 of the biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries. The strongest South African brands are included in the annual Brand Finance SA 100 2023 ranking.

Standard Bank’s brand value in 2023 has increased by 27% to R29.7bn.

Brand Finance reports: “A strong post-pandemic recovery has set up South African banking brands for impressive brand value growth. The sector now accounts for five brands in the top 10 of the ranking and is also the most valuable sector in the SA 100 2023 ranking, making up 24% of the total brand value. The combined brand value of the 11 banking brands included in the ranking was R146.5bn.”

Lungisa Fuzile, Standard Bank SA CEO, says: “We’re delighted that we have been recognised in this way amid some of SA’s brand giants. It is recognition that we share with our employees and loyal customers — we are grateful for their support and commitment.”

He adds: “To continue to lead as SA’s most valuable banking brand confirms our role as national ambassador in the contribution to the wider African economy. Guided by our purpose, Africa is our home, we drive her growth, we exist to make life easier for our clients, helping them to save, transact, grow their wealth, grow their businesses, and protect the things that matter most to them.”

“Looking ahead in 2023, we will continue to support sustainable growth and development in SA, while delivering excellent client service using world-class digital infrastructure balanced with a human touch.”

This article was sponsored by Standard Bank.